What Can You Do With a Math Degree?

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1 Courant Institute, NYU NYU Mathematics Society Colloquium, 2/8/2011

2 A math degree provides the foundation for many different types of careers immediate employment financial math masters programs other professional programs PhD study in a math-intensive field PhD study in mathematics

3 Immediate Employment teaching (credentials via Math for America or Steinhardt) data-mining or software (recommended: comp sci) finance world (recommended: economics, statistics) actuarial science (need: prob/stat and actuarial exams) positions demanding analytical skills (e.g. paralegal)

4 Financial Math Masters Programs new but very successful: financial mathematics or financial engineering masters programs concept: different from MBA or PhD program lengths and costs vary (typically 3 semesters) financial aid is rare (most students take loans) typical placements: risk management, asset management, algorithmic trading, pricing & hedging of options

5 Other Professional Programs Law schools like math majors (no news here). Good and bad reasons to continue for a regular math MS: bad You don t know what you want to do. good You know what you want to do, and it requires more math. Some MS degrees are very employable (e.g. statistics, computer science).

6 PhD in a Math-Intensive Field Options include: Operations Research, Statistics, Economics, Computer Science. PhD s in these areas have a wealth of career options (non-academic as well as academic). To be a credible applicant you must have taken (and done well in) relevant courses.

7 PhD in Mathematics Most math PhD s become college or university teachers. Other careers are also possible, e.g. finance and software. Programs vary; Applied Math can be separate from Math. Some schools offer additional options such as Computational Science or Computational Biology.

8 Selecting and Applying to PhD Programs Keep an open mind. (Notice what you like, but don t limit yourself to that. Think about why you like it.) Different schools have different strengths, both in the areas they cover and in the environment they maintain. Seek advice from faculty who know you well. Expect to get financial support. The list of schools where you could thrive is long. Apply for Graduate Fellowships through NSF, Hertz, etc if you qualify.

9 Maximizing Your Chance of Success Take advanced classes (like Analysis I,II) as soon as you re ready (but not earlier) Get to know your teachers. Do a research project at NYU, e.g. through SURE: you ll enjoy it, and your advisor will have a lot to say about you. Consider participating in an REU program somewhere else (NSF maintains a list). When you get around to applying: use the "statement of purpose" well. Also: choose your recommenders well. Some departments hold recruitment events. Departments or groups with recent RTG awards will be hungry for American students.

10 Conclusions It s OK to be unsure what you want to do. Today s choices influence tomorrow s possibilities. But change is possible. Every person is different. Make a choice that works for you. Many society websites have useful information, including SIAM (applied math) AMS (mathematics) ASA (statistics) IAFE (financial engineering) INFORMS (operations research)